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Hydro One to review executive compensation

Electric pylon with high power wires and Canadian Dollar or Money, a double exposure shot, concept for spend on electricity
Electric pylon with high power wires and Canadian Dollar or Money, a double exposure shot, concept for spend on electricityiStock/Singh-Lens
Officials with Hydro One will be reviewing executive compensation arrangements at the urging of the Ontario Liberals.

Hydro One executive compensation will be under the microscope after a push from the government.

Officials with the utility say they wil be taking a close look at executive compensation arrangements at the urging of the Ontario Liberals.

Energy Minister Glenn Thibeault announced the review after the markets closed yesterday.

It comes after Doug Ford said he could fire the CEO and board of directors at the partially privatized utility if he is elected.

According to Hydro One's annual shareholders report released two month ago, Mayo Schmidt earned 6.2 million dollars last year, and would be entitled to at least 10.7 million in severance if he were to get the axe. 

Local News

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